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S1234Referred to Committee

SSI Savings Penalty Elimination Act

Share:
Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2025-04-01
Introduced
13
Cosponsors
S
ⓘ
Type

Sponsor

Catherine Cortez Masto
Catherine Cortez Masto
Democrat · NV · Senator
Votes with party: 78.8% (841 recorded votes)

Full profile: /officials/C001113

Source: Congress.gov · FEC

Cosponsors (13)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

13 cosponsors on record at Congress.gov. The named list is syncing into Govwatch and will appear here shortly — view on Congress.gov in the meantime.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Read twice and referred to the Committee on Finance.

2025-04-01

Source: Congress.gov

Committee Activity

Previously

  • Senate Committee on FinanceReferred To · 2025-04-01

Plain-English Summary

The proposal would remove the strict limits on how much money Supplemental Security Income (SSI) recipients can save without losing their benefits. Currently, SSI recipients lose eligibility if they have more than $2,000 in savings, which discourages people with disabilities and elderly individuals from building financial security. The change would allow these vulnerable populations to accumulate modest savings for emergencies and future needs without penalty.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

Subjects

Social Welfare
Full bill text is not yet cached locally.
Open text viewRead on Congress.gov

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Bills by the same sponsor or covering overlapping subjects.

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